A platform for research: civil engineering, architecture and urbanism
A platform for research: civil engineering, architecture and urbanism
Many mining companies built volume during the epic super cycle only to find themselves saddled with debt and excess capacity when the bubble burst. It was the classic boom-bust cycle that has haunted this industry for generations. The gold sector was no different. It too fell prey to one of the greatest bull runs for any precious metal. Similar to most of the miners in the gold space, Newmont Mining Corp was reviewing its portfolio as the gold price began to plummet in late 2012. How they managed through that period is what sets them apart from other gold producers today. Making some difficult decisions, they created a solid foundation from which they began to build. As of mid-2016, Newmont has lowered net debt by 49% since 2013, reduced its all-in sustaining costs (AISC) by 28% since 2012, and delivered positive free cash flow for eight of the last nine quarters.
Many mining companies built volume during the epic super cycle only to find themselves saddled with debt and excess capacity when the bubble burst. It was the classic boom-bust cycle that has haunted this industry for generations. The gold sector was no different. It too fell prey to one of the greatest bull runs for any precious metal. Similar to most of the miners in the gold space, Newmont Mining Corp was reviewing its portfolio as the gold price began to plummet in late 2012. How they managed through that period is what sets them apart from other gold producers today. Making some difficult decisions, they created a solid foundation from which they began to build. As of mid-2016, Newmont has lowered net debt by 49% since 2013, reduced its all-in sustaining costs (AISC) by 28% since 2012, and delivered positive free cash flow for eight of the last nine quarters.
Newmont Repositions and Reaps the Rewards
Steve Fiscor (author)
2016
Article (Journal)
English
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